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October 17 2017

ICO Alert Report: Agora

ICO Alert Report: Agora

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What is Agora?

The Agora Marketplace is a distributed marketplace. We wanted to create a marketplace where its main actors (sellers and buyers) are the ones in the middle of the stage. With today’s marketplaces, the company that rules the marketplace is in the center of its clients’ interactions. We believe that to create a better and more sustainable way of exchanging goods, we must create a marketplace where you can forget you are on it. Our vision is clear: we want to create the fair marketplace that the 21st century deserves.
— The Agora Team

Q&A

ICO Alert: How does the Agora token (AGO or α) function within the platform and why is it needed?

Agora: The Agora token is a way for us to give the community more control over the marketplace. In today’s marketplaces, we have to trust that big companies will make choices that are in our best interest. But, we’ve quickly realized that what is in our interest is not always what’s theirs. We believe that to make the interests of all the actors converge, they must have a common goal. That’s the spirit behind the blockchain in some way.

Holding Agora tokens will permit you, approximately every month (we’re relying on block numbers not dates), to withdraw a gain made by a fee applied to every transaction made over the marketplace.

ICO Alert: What makes Agora different than the other marketplace projects that have been launched? What advantages does Agora hold over other cryptocurrency related marketplace projects?

Agora: We have couple of differences compared to other cryptocurrency related marketplaces. First, we want to give a legal framework around the marketplace, so users will be able to use it without fearing it being shut down by authorities. Being distributed does not mean being above the law. But our main difference is our commitment to creating a fair marketplace. We believe that someone has to provide this alternative over other big marketplaces.

ICO Alert: One of the most difficult things to accomplish in creating a marketplace is achieving a network effect. How does the team plan to market the marketplace and attract both buyers and sellers?

Agora: We want to help merchants to create their place on the marketplace by helping them to create a wallet, connecting to the marketplace, customizing their homepage, etc. We believe that’s how we can generate a network effect.

ICO Alert: What is the project’s stance on illegal goods being sold? Will they be censored for legal reasons or is the team simply creating the marketplace?

Agora: Our stance is clear: illegal goods will be censored, removed, and related authorities will be reached. We do not want to create an illegal marketplace. We’re currently working with legal advisors to solve all the problems around “distributed technologies” and legal concerns.

ICO Alert: The roadmap shows a plan for integration with delivery services. Does the team have unique connections to make this happen or is the thought that the marketplace will have a large network effect by the time that integration takes place?

Agora: We do not have any unique connection to make this happen. Almost every delivery company has an API, we just have to use this API and host it in a decentralized and trusted way, and it will become a decentralized Oracle for the Agora smart contract.

ICO Alert: What experience does the team have in executing on a large project like this?

Agora: Jérémy, our CEO, has architected huge projects in the past (NDAs prevent him from releasing names). Vincent has been working on projects for cities near Paris. We are used to designing big projects since it is our daily work.

ICO Alert: Will the marketplace have specific goods that are focused on and sold more than others, or will that be determined more by buyers and sellers?

Agora: Actors in the middle of everything implies that the content of the marketplace is made by the users, for the users. The shareholders will have a moderation role if something goes wrong with a merchant or with a buyer.

ICO Alert: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for the rest of 2017 and 2018?

Agora: We’ve been working on the MVP since the ICO started and will be ready to launch the first version by January 2018. We will help merchants to create their places around February 2018 and after that, we will follow the timeline on our website.

ICO Alert: As a non-Agora question we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Agora: Big question, we’ve come so far in a such a short period of time that predicting what will happen in 3–5 years is like looking in a crystal ball. Our vision is that cryptocurrencies will replace fiats, or fiats will evolve to become cryptocurrencies. Maybe we will be able to trigger smart contracts using Euros or USD directly. This is why we want to create a marketplace that relies only on cryptocurrencies. ICOs are a formidable way for little projects to become big ones, and it’s a real step to create project that can challenge the big companies already monopolizing the market.

Crowdsale Information
The crowdsale began on August 5, 2017 and will end on November 8, 2017. An unlimited amount of Agora tokens (AGO) will be available for purchase. Tokens are created as funds are received from contributors, instead of a large number of tokens being created and any unsold tokens burned. The AGO token is an ERC-20 token, therefore, an ERC-20 compatible Ethereum wallet is required to store the tokens.

The amount of AGO tokens received is constant across the entire crowdsale period:

One Ether = 500 AGO.

Ether and Bitcoin will be the two forms of contribution accepted to purchase AGO tokens. The stated minimum cap is 500 ETH and there is no hard cap. If the minimum cap is not reached, funds will be returned to the original investor. Visit the Agora website for more information and the contribution address, or view their ICO guide.

Token Distribution Information
There is an unlimited number of AGO tokens being created over a two month period (315,106 blocks). No further AGO tokens will be created in the future and the final amount of tokens will depend on how much Ether has been contributed.

Tokens will be distributed to contributors immediately after contribution is sent and the transaction has been confirmed. For Bitcoin contributions, the transaction confirmation may take up to 24–36 hours because it’s running through a third-party application (i.e. Changelly) to turn the Bitcoin contributed into Ether.

The Agora whitepaper is available for additional details regarding distribution.

Allocation
For every one token that is created, there is ⅙ of a token being sent to the Agora development team through the smart contract. These Agora tokens for the development team are frozen indefinitely. Essentially all tokens in circulation are being sold across the crowdsale.

Use of Crowdsale Proceeds
10%: Reserve
60%: Product creation
10%: Legal
20%: Marketing and merchant integration

Team
Jérémy Seban, CEO and Lead Developer
Linkedin
Jérémy has 10 years of experience as a developer and has been involved in blockchain projects for three years. Prior to Agora, he founded the startup FranceChain Solutions. Jérémy is a ruby developer with a big data and machine learning background.

Vincent Quadrelli, Product Manager
Linkedin
Vincent will lead the project team once funds are completely raised. He also currently works as a computer science engineer at Osaxis.

Paul Meutey, Front-end Developer
Paul has been a front-end developer for several years, and is now responsible for the JavaScript architecture within Agora.

Adrien Prokopowicz, Back-end Developer
Adrien is currently the back-end developer for Agora and is the mind behind the decentralized search-engine over distributed technologies.

Social Media
Twitter:​ ​https://twitter.com/TheAgoraICO
Facebook: https://www.facebook.com/TheAgoraICO/
Slack:​ https://theagoramarketplace.slack.com/
Reddit:​ https://www.reddit.com/r/TheAgoraMarketplace/
BitcoinTalk: https://bitcointalk.org/index.php?topic=2066979.0

View the AgoraWebsite here.

View the only comprehensive list of active and upcoming ICOs here.

References
(1) Agora Website, Agora, (2017)
https://theagora.io/

(2) Agora Whitepaper, Agora, (2017)
https://theagora.io/assets/agora_whitepaper.pdf

Topics: Blockchain, ICO, Cryptocurrency, Decentralization, Marketplaces